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Oct 25, 2016
10/16
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CNBC
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ken langone is here. ken langone alert, alert, he's here.utures at this hour, this has nothing to do with ken but they were up over 20 earlier. now up only eight on the dow. actually down now on the s&p. up five now on the nasdaq. merck was okay. i'm not sure -- it's 20 points. so who knows. it's come about 16 points or so. we never know. the regular session is much more important than what happens in the morning. anyway, we just get an idea where things might open. we'll talk to ken after we get through some of this other stuff. >> as soon as we get through the headlines at this hour. we're about two hours away from fresh housing industry data. we're going to get the k.sh sh p shiller report. expected to show a rise in august home prices compared to a year ago. >>> how the new iphone 7 may or may not have helped the bottom line. >>> earnings out from united technologies. the industrial conglomerate earning $1.76 per share. that was 10 cents above estimates. revenues also beat forecasts. we see 8 cents higher in extended hours trading in the
ken langone is here. ken langone alert, alert, he's here.utures at this hour, this has nothing to do with ken but they were up over 20 earlier. now up only eight on the dow. actually down now on the s&p. up five now on the nasdaq. merck was okay. i'm not sure -- it's 20 points. so who knows. it's come about 16 points or so. we never know. the regular session is much more important than what happens in the morning. anyway, we just get an idea where things might open. we'll talk to ken after...
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Oct 11, 2016
10/16
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FBC
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and today we have ken langone, there he is. look at that guy. he's coming in soon. he supports trump. that's next. you can run an errand. (music playing) ♪ push it real good... (announcer vo) or you can take a joyride. bye bye, errands, we sing out loud here. siriusxm. road happy. yeahashtag "stuffy nose."old. hashtag "no sleep." i got it. hashtag "mouthbreather." yep. we've got a mouthbreather. well, just put on a breathe right strip and ... pow! it instantly opens your nose up to 38% more than cold medicine alone. so you can breathe ... and sleep. shut your mouth and say goodnight mouthbreathers. breathe right. (announcer vo) you can go straight home. (howard stern on radio) welcome to show business. (announcer vo) or you can hear the rest of howard. bababooey! (announcer vo) sorry, confused neighbors, howard's on. siriusxm. road happy. on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for drivers with cident forgiveness, liberty mutual won't raise your rates due to your first acc
and today we have ken langone, there he is. look at that guy. he's coming in soon. he supports trump. that's next. you can run an errand. (music playing) ♪ push it real good... (announcer vo) or you can take a joyride. bye bye, errands, we sing out loud here. siriusxm. road happy. yeahashtag "stuffy nose."old. hashtag "no sleep." i got it. hashtag "mouthbreather." yep. we've got a mouthbreather. well, just put on a breathe right strip and ... pow! it instantly...
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Oct 11, 2016
10/16
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BLOOMBERG
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erik: people who don't know you the way ken langone knows you will ask this question -- do you as a matter of practice in an effort to produce returns for your investors sale close to the wind? leon: not even close. we are 80 dive fundamental firm. dive are a deep fundamental term. we rely on information. he always told the analysts, if the company gives you something that a significant nonpublic information, urges the company to make a press release. we are looking for insight. don't make any attempt to outlaw speaking with companies. we are on a level playing field. we do not seek information. i would love to go into the facts, but my lawyer has been muzzled. it's so sad what's going on. go back to that term he used a couple of moments ago, astronomical. in a statement you released earlier today, you said the damage to the firm has dramatically impacted the opportunity for professional growth for my 43 partners and associates. what is astronomical come exactly? what is the scale of the damage? leon: we dropped from $7 million to $4 billion. goldman sachs pulled out. from a wonderful call
erik: people who don't know you the way ken langone knows you will ask this question -- do you as a matter of practice in an effort to produce returns for your investors sale close to the wind? leon: not even close. we are 80 dive fundamental firm. dive are a deep fundamental term. we rely on information. he always told the analysts, if the company gives you something that a significant nonpublic information, urges the company to make a press release. we are looking for insight. don't make any...
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Oct 29, 2016
10/16
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FBC
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when we started in 78, 7910 langone as you know the government was there for us. they really tried to help us get along. in today's environment, i will give you perfect example. dodd-frank, we were undercapitalized and i mean undercapitalized. the bank line was critical. i couldn't get a bank in georgia to back us in this state state because of the new venture, new idea. we couldn't sell it to anybody. my old bankers in california, atlanta georgia, california they agreed to give us $5.5 million line of credit. today in by the way we where undercapitalized. our balance sheet with terrible but the banker in california believed in us, believed with arthur and myself. he knew we were honest and we had a. idea. he thought it was going to be successful in this bank loaned us money. under dodd-frank it could never have happened. that's number one. number two, under dodd-frank small banks are closing all over america. small banks are there to take care of small businesses. $500,000, $100,000 in and in some cases $50,000. today with the regulators and every single bank, yo
when we started in 78, 7910 langone as you know the government was there for us. they really tried to help us get along. in today's environment, i will give you perfect example. dodd-frank, we were undercapitalized and i mean undercapitalized. the bank line was critical. i couldn't get a bank in georgia to back us in this state state because of the new venture, new idea. we couldn't sell it to anybody. my old bankers in california, atlanta georgia, california they agreed to give us $5.5 million...
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Oct 29, 2016
10/16
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FBC
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when we started in 78, 7910 langone as you know the government was there for us. they really tried to help us get along. in today's environment, i will give you perfect example. dodd-frank, we were undercapitalized and i mean undercapitalized. the bank line was critical. i couldn't get a bank in georgia to back us in this state state because of the new venture, new idea. we couldn't sell it to anybody. my old bankers in california, atlanta georgia, california they agreed to give us $5.5 million line of credit. today in by the way we where undercapitalized. our balance sheet with terrible but the banker in california believed in us, believed with arthur and myself. he knew we were honest and we had a. idea. he thought it was going to be successful in this bank loaned us money. under dodd-frank it could never have happened. that's number one. number two, under dodd-frank small banks are closing all over america. small banks are there to take care of small businesses. $500,000, $100,000 in and in some cases $50,000. today with the regulators and every single bank, yo
when we started in 78, 7910 langone as you know the government was there for us. they really tried to help us get along. in today's environment, i will give you perfect example. dodd-frank, we were undercapitalized and i mean undercapitalized. the bank line was critical. i couldn't get a bank in georgia to back us in this state state because of the new venture, new idea. we couldn't sell it to anybody. my old bankers in california, atlanta georgia, california they agreed to give us $5.5 million...
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Oct 30, 2016
10/16
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FBC
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when we started in 78, 7910 langone as you know the government was there for us. they really tried to help us get along. in today's environment, i will give you perfect example. dodd-frank, we were undercapitalized and i mean undercapitalized. the bank line was critical. i couldn't get a bank in georgia to back us in this state state because of the new venture, new idea. we couldn't sell it to anybody. my old bankers in california, atlanta georgia, california they agreed to give us $5.5 million line of credit. today in by the way we where undercapitalized. our balance sheet with terrible but the banker in california believed in us, believed with arthur and myself. he knew we were honest and we had a. idea. he thought it was going to be successful in this bank loaned us money. under dodd-frank it could never have happened. that's number one. number two, under dodd-frank small banks are closing all over america. small banks are there to take care of small businesses. $500,000, $100,000 in and in some cases $50,000. today with the regulators and every single bank, yo
when we started in 78, 7910 langone as you know the government was there for us. they really tried to help us get along. in today's environment, i will give you perfect example. dodd-frank, we were undercapitalized and i mean undercapitalized. the bank line was critical. i couldn't get a bank in georgia to back us in this state state because of the new venture, new idea. we couldn't sell it to anybody. my old bankers in california, atlanta georgia, california they agreed to give us $5.5 million...
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Oct 11, 2016
10/16
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maybe he's right about something i heard ken langone, a very smart republican business guy say, even if he loses 59-41, which is possible, that still says that 41% of this country, more than two in five, voted for trump. so maybe he does have a sense -- let me ask you about this fight. in taking on -- it's such a barroom brawl now. he goes -- you know, paul ryan, i'm not a big fan of paul ryan. he comes out and says, i'm not going to be seen with the guy again. and he says, okay, buster, we're going to fight and i'm going to win this without you and i'm going to make you look stupid. the same thing with john mccain, the guy who ran for vice president last night, the guy to ran for president the time before, going into a boxing match in a back room with these guys. >> reporter: listen, i talked to a top adviser of donald trump within the last 30 minutes about that very issue, why pick these fights, why do this? and his strategy is, part of it is, it fits with his message of going after washington and going after the establishment, rather than do it rhetorically, donald trump's going t
maybe he's right about something i heard ken langone, a very smart republican business guy say, even if he loses 59-41, which is possible, that still says that 41% of this country, more than two in five, voted for trump. so maybe he does have a sense -- let me ask you about this fight. in taking on -- it's such a barroom brawl now. he goes -- you know, paul ryan, i'm not a big fan of paul ryan. he comes out and says, i'm not going to be seen with the guy again. and he says, okay, buster, we're...
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Oct 25, 2016
10/16
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CNBC
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but we have ken langone today. i'm not going to call it a dumpster fire, but people stop and watch crazy stuff that's going on. ken is outspoken. he will never pull pack on any of his punches. he'll tell you exactly what e he thinks. i fwarn tee you he thinks dynamic growth can occur from supply side economics. he is still a a young fellow. he built the company that's now worth got to be over $100 billion. in his lifetime. who believed that you can build something with every single thing a man could ever use in terms of home improvement. i go there for lightbulbs. i can't find them usually. i don't know which ones i need. i'm overwhelmed by that. but people that know what they are doing in terms of being handy love home depot. we have cfos of procter & gamble. a company that sara knows so well. when you go home from the city, you would see the proctor & gamble towers. >> absolutely. >> i was headed to the other side to pete rose country over western hills and price hill and sort of the -- >> no man's land. >> the d
but we have ken langone today. i'm not going to call it a dumpster fire, but people stop and watch crazy stuff that's going on. ken is outspoken. he will never pull pack on any of his punches. he'll tell you exactly what e he thinks. i fwarn tee you he thinks dynamic growth can occur from supply side economics. he is still a a young fellow. he built the company that's now worth got to be over $100 billion. in his lifetime. who believed that you can build something with every single thing a man...
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Oct 25, 2016
10/16
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ken langone spoke very well about home depot.'m really getting concerned that housing spending may be somehow cut back. i don't know. it's not -- it's not anything that anyone thought that would happen. i mean vf corp, okay, we know apparel spending has been weak. but housing spending, this is rather incredible, the switch. when ppg announced i thought they were in an inferior position to sherwin-williams, but no. whirlpool. >> whirlpool missed on the tom and bottom line by a wide margin. the guide to 14 to 14.25. street is at 14.61. >> they are a serial underperformer. holy cow. yeah, this shu beould have been their time. there's been great consolidation in the appliance business, but there's still a demand side. something happened in the last three months in this country. when you get off the desk with people, the one thing they never want to mention is politics. fear, negativity, politics. this is the -- i dug up the old speech, the crisis and confidence jimmy carter speech. resonated. resonated. i don't have a card begigan sw
ken langone spoke very well about home depot.'m really getting concerned that housing spending may be somehow cut back. i don't know. it's not -- it's not anything that anyone thought that would happen. i mean vf corp, okay, we know apparel spending has been weak. but housing spending, this is rather incredible, the switch. when ppg announced i thought they were in an inferior position to sherwin-williams, but no. whirlpool. >> whirlpool missed on the tom and bottom line by a wide margin....
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Oct 11, 2016
10/16
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ken langone is the co-founder of home depot. cooper man is a former ceo of goldman sachs and t. boone pickens is founder of mesa petroleum and b.p. capitol. my conversation with these men? well, i'll leave that to you. >> i am sitting here with three of the most powerful men in the united states. >> tell my wife that, please. >> i mean, you guys are worth collectively billions of dollars, right? very influential. you donate hundreds of millions 6 dollars to charity. you are the epitome of the american dream. if you were 18 years old today, could you achieve everything you have in life now? >> absolutely. i wish -- >> even though college is expensive. >> wait a minute. college was expensive then. my father made $4300 in 1953 and bucknell was $2500 a year. >> i bet it's a lot more than that now. >> so what? my father's income would be a lot more than that. apples to apples. >> 5400. >> why don't young people feel they can achieve that. >> ask them. ask them. >> i have asked them. they think college is too expensive. they carry thi
ken langone is the co-founder of home depot. cooper man is a former ceo of goldman sachs and t. boone pickens is founder of mesa petroleum and b.p. capitol. my conversation with these men? well, i'll leave that to you. >> i am sitting here with three of the most powerful men in the united states. >> tell my wife that, please. >> i mean, you guys are worth collectively billions of dollars, right? very influential. you donate hundreds of millions 6 dollars to charity. you are...
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Oct 11, 2016
10/16
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ken langon is founder of the home depot. leon cooperman is the former krp eo of goldman sachs.. boone pickens is founder and krp eo of bp capital. my conversation with these men. some people might say we have a wealthy businessman running for president of the united states. is he a great role model? >> as good as hillary. okay. >> we have different views. >> that's our choice. certainly as good as hillary. she's had more controversial around her life for a longer period. >> i'm not just talking about donald trump as a wealthy businessman. is he the kind of businessman that you want presented to the world for young people to look at and to look up to? >> this is a contest between two undesirable candidates. >> exactly right. >> two undesirable candidates. i personally -- anyone who mocks a handicapped person, okay, which he did with "the new york times" reporter, or somebody who says that john mccain isn't a hero, could i not bring myself to vote for that person. president obama successfully made romney's success a liability. now we get a guy, stands up in front of the camera, s
ken langon is founder of the home depot. leon cooperman is the former krp eo of goldman sachs.. boone pickens is founder and krp eo of bp capital. my conversation with these men. some people might say we have a wealthy businessman running for president of the united states. is he a great role model? >> as good as hillary. okay. >> we have different views. >> that's our choice. certainly as good as hillary. she's had more controversial around her life for a longer period....
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Oct 24, 2016
10/16
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when i heard donald trump give those remarks, i could har in my mind conservatives, i could hear ken langone saying bravo at term limits. in the same speech, he then takes a turn and goes after the accusers. from your perspective, why is he doing this? >> okay, so i didn't come on to defend him. he is donald trump. and that is his original content, he's been doing that for the last 17 months. what people have to recognize about him, the reason why he does have a very strong base of popularity is he's an authentic person and not necessarily a politician. a politician probably wouldn't have done that, stephanie, but that's not donald trump. his message to people is he's a disruptive force that can descend into washington as a nonpolitician and try to change some of the morass that happens in washington. >> but you're a risk manager. you're not part of who his core base is. and he just tweeted out, a major story that dems are making up phony polls in order to suppress the trump. we're going to win. as a risk manager, do you believe he's going to win? >> i'm a risk manager, but i'm also a risk t
when i heard donald trump give those remarks, i could har in my mind conservatives, i could hear ken langone saying bravo at term limits. in the same speech, he then takes a turn and goes after the accusers. from your perspective, why is he doing this? >> okay, so i didn't come on to defend him. he is donald trump. and that is his original content, he's been doing that for the last 17 months. what people have to recognize about him, the reason why he does have a very strong base of...
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Oct 27, 2016
10/16
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marc siegel, fox medical a-team and professor of medicine at langone medical center., stand by one second. howie, let's begin with you. how are you seeing it play out in the media? >> good morning, bill, sudden spike in obamacare premiums and dwindling insurance options for some people seem to be good news for donald trump seeking repeal the president's signature program and hillary clinton who wants to reform it. it is challenging a fair amount of coverage with pundits differing with impact on trump's campaign. >> does have an issue he can use if he is smart which is this obamacare story about premiums going up 25% in certain plans. 22% in other plans. choice shrinking. >> all things predicted by conservatives. >> you would think a bombshell announcement like this, a couple weeks before the election we'd all talking about how it's a game-changer for the outcome and it is probably not because there has been so much damage done to donald trump in other respects. >> chuck lane noted that trump mistakenly claimed obamacare was hurting employees of his company. he provide
marc siegel, fox medical a-team and professor of medicine at langone medical center., stand by one second. howie, let's begin with you. how are you seeing it play out in the media? >> good morning, bill, sudden spike in obamacare premiums and dwindling insurance options for some people seem to be good news for donald trump seeking repeal the president's signature program and hillary clinton who wants to reform it. it is challenging a fair amount of coverage with pundits differing with...
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Oct 24, 2016
10/16
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and straight talk from ken langone. >>> hi, everybody. i'm sue herera. here is your cnbc news update for this hour. iraqi forces are shelling isis positions outside mosul, fighting to retake the extremist held city enters its second week. iraqi and kurdish forces are within 5 1/2 miles of mosul, home to more than a million people. >>> 11 people arrested in the town of katania and charged with illegally trafficking women from nigeria as sex slaves. authorities say they were forced in a voodoo ritual before the journey to italy and then told that they owe the travelers ffip to $43,000. >>> syrian refugees have arrived in rome. italian authorities granted visas for the refugees in a bid to stop dangerous and illegal sea crossings to europe. >>> on a lighter note, fans of girl scout cookies will soon be able to eat their favorites for breakfast. girl scouts of america and general mills teamed up to create girl scout cookie cereal nationwide by january we're told. that's the cnbc update. not that there would be any sugar in there, michelle. >> i was just thin
and straight talk from ken langone. >>> hi, everybody. i'm sue herera. here is your cnbc news update for this hour. iraqi forces are shelling isis positions outside mosul, fighting to retake the extremist held city enters its second week. iraqi and kurdish forces are within 5 1/2 miles of mosul, home to more than a million people. >>> 11 people arrested in the town of katania and charged with illegally trafficking women from nigeria as sex slaves. authorities say they were...
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Oct 26, 2016
10/16
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we had a guy on yesterday ken langone talking about how soft the market was for trucks.at hurt? >> absolutely. ken's right. the used truck market and rental market are very soft right now. in a slow growth economy, there's really too many trucks and not enough freight right now to move. you've got to work your way through the inventory of trucks out there and then get back to a better market. i think what's been positive for ryder is our ability to grow other parts of our business. so all of our contractual outsourcing business whether it's the truck leasing business or the dedicated transportation or the truck and the driver or the logistics business. all of those grow 7%, 8%. what's really a pretty difficult environment. we're quining new companies to outsource those activities to ryder. >> what's the total amount of percentage of revenue that comes from those other businesses? >> it's about 85% of the revenue coming from those outsourcing businesses. you've got 50% that's come from -- we resell them in the used truck market. >> if there's -- you point out additional w
we had a guy on yesterday ken langone talking about how soft the market was for trucks.at hurt? >> absolutely. ken's right. the used truck market and rental market are very soft right now. in a slow growth economy, there's really too many trucks and not enough freight right now to move. you've got to work your way through the inventory of trucks out there and then get back to a better market. i think what's been positive for ryder is our ability to grow other parts of our business. so all...
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Oct 11, 2016
10/16
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ken langone.d me up two and a half mornts ago when this broke and said i've known you for 40 years. i've been an investor with you for over a decade. i know what you stand for. alls i can tell you, the best $30 million i ever spent was the $30 million i spent defending myself against eliot spitzer. if you've done nothing wrong, don't give these guys a dime. that's my philosophy. and it's going to cost my substantially more. i could have settled with them for about less than half of what i give to charity annually. what gets me the most about the whole thing is my family has created this cooperman come scholars. if you have financial need unmet by government, i'll get you through a college degree. we have 500 kids we want to send to college. i'm prepared to boost it if it works. the problem with the statistics are i think roughly a third of 35% of newer high school graduate gos to college, only 5% graduate. this is life changing. what i'm spending on this legal thing, i could triple the number spen
ken langone.d me up two and a half mornts ago when this broke and said i've known you for 40 years. i've been an investor with you for over a decade. i know what you stand for. alls i can tell you, the best $30 million i ever spent was the $30 million i spent defending myself against eliot spitzer. if you've done nothing wrong, don't give these guys a dime. that's my philosophy. and it's going to cost my substantially more. i could have settled with them for about less than half of what i give...